URBN pushes through key resistance level
Urban Outfitters Inc. (URBN) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving higher for the 5th day in a row, URBN finished the week 7.98% higher at 48.28 after gaining $0.74 (1.56%) today on high volume. Today's closing price of 48.28 marks the highest close since Inception. Closing above Thursday's high at 47.67, Urban Outfitters confirms its breakout through the previous session's high having traded $1.27 above it intraday.
Daily Candlestick Chart (URBN as at Aug 10, 2018):
Friday's trading range was $1.83 (3.84%), that's above last trading month's daily average range of $1.37. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.
Breaking through the key resistance level at 48.24 today, it is now likely to act as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.